An $81m residential project for the Al Furjan area of Dubai has sold out say property company Danube.

Under the banner “Stop renting, Start owning” the Glanz development will see 418 studio, one and two bedroom apartments all featuring the company’s trademark “two rooms in one” design.

This features a bed which retracts into the wall during the day turning a bedroom into a living room. So as well as studio’s changing use, one bedroom apartments become two and two become three.

Design work was undertaken by a consultancy called Edmac – which stands for Engineer for Design, Management, Architectural and Civil. Prices start from $122,000 for a studio and completion is set for September 2018.

Rizwan Sajan, founder and chairman, Danube Group said, “There is a mandate in place from Dubai Municipality for affordable housing. At present there is no incentives in place for developers to undertake this sort of work as there is in Europe. But there is a market for affordable housing being created.”